11500 Riverside Drive #3

Pleased to present 11500 Riverside Dr, a 5-unit apartment building located in North Hollywood, CA. Built in1955, the property has one (1) two bedroom-one bathroom unit, two (2) units with one bedroom-one bathroom-plus yard, and two(2) units with one bedroom-one bathroom. The building is 3,622square feet and sits on a 4,547 square foot corner lot. In the back of the property there are two garages totaling 4 parking spaces that are in owner control and not leased to any tenants. The owners will lease back the garages for $1,100 a month on a month-to-month basis if buyer desires. These garages offer the ability to rent them out as garage income or the ability to convert to at least one ADU if the buyer wanted, adding to the unique upside potential. Laundry is on site on the first floor of the building. The subject property is located in a charming neighborhood of single-family homes and is a mile away from the NoHo Arts District. With close proximity to the 101 and 170 freeways, 11500 Riverside Dr can also offer residents connectivity to the rest of Los Angeles. 11500 Riverside Dr represents a unique value-add opportunity for investors due to the property's location, unit mix and possibility for ADUs. A savvy investor can grow this 5-unit corner property into a 6-unit gem in one of the most development dense and fastest growing pockets of Los Angeles. The property was issued a certificate of compliance in March 2023 for LA City's soft story retrofit requirement.